Bitcoin Should Be Treated Like Gold and Oil, According to Ray Dalio
As Bitcoin pushes beyond $120,000 and sets traders buzzing about a fresh leg in the bull market, one of the world’s most influential hedge fund managers has given it a striking label: “alternative money.”
Ray Dalio, the billionaire founder of Bridgewater Associates, says Bitcoin’s scarcity and its acceptance as a store of value put it in the same conversation as precious metals. He emphasized that its fixed limit of 21 million coins makes it resilient against the inflationary risks of fiat currencies. At the same time, he questioned whether governments and central banks would ever treat it like a reserve asset, warning that regulations and the demand for transparency in official balance sheets could hold it back.
Dalio’s cautious optimism echoes views from other prominent investors. Robert Kiyosaki, for example, has consistently grouped Bitcoin with gold and silver as essential hedges against global financial shocks. Both men argue that strained bond markets and falling demand for U.S. treasuries are pushing investors toward assets that can’t be inflated at will.
But while Wall Street’s heavyweights debate Bitcoin’s role in the financial system, market data shows traders are actively locking in profits. Analytics firm CryptoQuant recorded more than $3.7 billion in realized gains in a single day – one of the largest sell-offs of 2025 so far. Analysts noted that such events often come from long-term holders cashing out parts of their positions, not short-term speculators trying to flip, meaning upward momentum can still continue.
Futures markets reflect that optimism. Open interest in Bitcoin contracts has soared to a record $88 billion, while spot ETFs continue to absorb fresh inflows. Together, these signs point to an environment where institutions are becoming increasingly comfortable betting on BTC’s long-term role.
Major banks are also sketching bold scenarios. Citigroup has outlined a potential peak of $231,000 within the next year, while JPMorgan estimates that Bitcoin could climb to $165,000 if it continues to gain parity with gold in terms of risk-adjusted returns. Both firms note that the token’s volatility has eased compared to earlier years, a development they interpret as evidence of a maturing market.
With profit-taking surging, whales accumulating, and Wall Street assigning six-figure targets, Bitcoin finds itself at the center of both speculation and validation. For Dalio, the conversation no longer revolves around whether Bitcoin is real money – but whether it can hold its ground in the same league as gold and oil.
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Alexander Zdravkov is a market analyst and crypto journalist with interests in economics, broader financial markets and digital assets. His journey into crypto began more than four years ago, driven by a fascination with the rapid evolution of blockchain technology and the transformative potential of decentralized finance. He began analyzing market cycles and identifying emerging trends before they reach the mainstream. He holds a degree in International Relations - a background that helped shape his broader perspective on global economics, geopolitics, and the interconnected nature of modern financial markets. Whether covering the latest developments in the crypto sector or exploring broader macroeconomic themes, Alexander focuses on giving readers context rather than simply repeating headlines. During his career, he has authored more than 10,000 articles covering cryptocurrencies, traditional finance, and global market developments. His work spans everything from Bitcoin and altcoins to macroeconomic trends influencing risk assets worldwide.
